Company Credit Check

Free Company Credit Check

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Telephone: 01342 836 557


REF: Company Credit Check

Free Company Credit Check Crawley accountants

The Importance of Company Credit Checking

Why is Company Credit Checking important?

A Main Contractor recently asked Merranti to monitor the credit rating on a list of their suppliers,  this is where we use specialist credit monitoring software to tell us immediately if there is any change in not only the Credit Rating but also a change of address, Directors or debentures as well as Court Summonses.

However, the system also monitors the Directors, so if they are part of another company that fails,. This is what happened with one of their suppliers; we noticed that two of the Directors had recent failures in other companies which had gone into administration, in addition, they had started trading in a third company. On further investigation, it became apparent that the company that our client dealt with was about to fold, with this information they were able to review their payment terms and the supply and avoided a potential credit failure which would have seriously affected the company.

This type of payment avoidance happens all too often where a Director will start a company in advance of the old one failing and switch their existing customers, leaving the debt in the old company for it to be struck off or enter into administration.

Knowing this in advance is key to protecting your business.

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